Question 1

What is BDO Unibank?

Accepted Answer

BDO Unibank Hong Kong Branch is a licensed bank operating as a full-service branch of BDO Unibank, Inc., the largest bank in the Philippines. The Hong Kong branch serves business professionals and companies from Hong Kong, the Philippines, and other Asian countries with comprehensive banking products and services. It is regulated by both the Bangko Sentral ng Pilipinas (the Central Bank of the Philippines) and the Hong Kong Monetary Authority.

BDO Unibank, Inc. is incorporated in the Philippines with limited liability and is a member of the SM Group, one of the Philippines' largest conglomerates.

Question 2

When was BDO Unibank founded?

Accepted Answer

BDO Unibank was originally established on January 2, 1968, as Acme Savings Bank in Manila, Philippines. In November 1976, it was acquired by the SM Group and renamed Banco de Oro Savings and Mortgage Bank.

The bank underwent several transformations: becoming a commercial bank in December 1994, then a universal bank in September 1996. In 2007, it merged with Equitable PCI Bank, creating the largest bank in the Philippines by total assets. The entity officially changed its name to BDO Unibank, Inc. in 2010.

The Hong Kong branch has been operating for over 50 years, serving the Hong Kong market since the early 1970s.

Question 3

Where is BDO Unibank headquartered?

Accepted Answer

The Hong Kong branch is located at Suite 1001, 10th Floor, Central Tower, 28 Queen's Road Central, Hong Kong. This location places it in the heart of Hong Kong's Central business district.

The parent bank, BDO Unibank, Inc., is headquartered at BDO Corporate Center, 7899 Makati Avenue, Makati City, Philippines, with additional corporate offices at BDO Towers Valero, 8741 Paseo de Roxas, Salcedo Village, Makati City.

Question 4

Where does BDO Unibank operate?

Accepted Answer

BDO Unibank Hong Kong Branch operates exclusively in Hong Kong as a licensed bank under the supervision of the Hong Kong Monetary Authority. The branch serves customers throughout Hong Kong, with a particular focus on business professionals and companies with connections to the Philippines and other Asian countries.

Customers in the Philippines can also open accounts housed in the BDO Hong Kong Branch directly from branches in Manila, creating a seamless cross-border banking experience.

Question 5

What services does BDO Unibank offer?

Accepted Answer

BDO Unibank Hong Kong Branch offers a comprehensive range of banking services including:

Deposit Products: Current accounts, savings accounts, and time deposits in Hong Kong Dollar, US Dollar, and other major currencies. All eligible deposits are protected by Hong Kong's Deposit Protection Scheme up to HKD 800,000 per depositor.

Loan Products: Corporate and consumer lending facilities tailored to both individual and business needs.

Trade Services: Letters of credit (import, domestic, standby), trust receipts, export letters and bills, credit advising, credit negotiation, bills packing credit lines, documents against payment and acceptance, open account settlements, and shipping guarantees.

Other Services: Foreign exchange services, corporate cash management, and remittance services connecting Hong Kong with the Philippines and other international markets.

Question 6

What makes BDO Unibank unique?

Accepted Answer

BDO Unibank Hong Kong Branch provides a "feel of home banking" for Filipino customers and businesses operating in Hong Kong, leveraging its position as the branch of the Philippines' largest bank. This creates unique advantages for cross-border transactions between Hong Kong and the Philippines.

The branch's membership in Hong Kong's Deposit Protection Scheme provides customers with regulatory protection up to HKD 800,000 per depositor, ensuring security for eligible deposits including current accounts, savings accounts, and time deposits (excluding those with maturity longer than five years).

As part of the broader BDO network, which includes over 1,700 operating branches worldwide and more than 38,000 employees, the Hong Kong branch benefits from extensive international expertise while maintaining local market knowledge.

Question 7

What type of financial institution is BDO Unibank?

Accepted Answer

BDO Unibank Hong Kong Branch is classified as a Licensed Bank under Hong Kong's three-tier banking system, which is the highest category of authorized institution. Licensed banks in Hong Kong can carry out all types of banking business and are the only institutions permitted to operate current and savings accounts.

The parent institution, BDO Unibank, Inc., operates as a universal bank in the Philippines, which allows it to engage in all forms of banking activities including commercial banking, investment banking, and insurance-related services. The Hong Kong branch operates as a full-service branch with dual regulatory oversight from the Bangko Sentral ng Pilipinas and the Hong Kong Monetary Authority.

BDO Unibank

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About BDO Unibank in Hong Kong